TCBS secures nearly half a billion dollars

This is the largest syndicated loan ever recorded for a securities firm in Vietnam and marks the third consecutive year TCBS has set a new benchmark in accessing international capital markets.

The 2026 syndicated facility was arranged by a group of leading international financial institutions, including Cathay United Bank, CTBC Bank, Landesbank Baden-Württemberg, Mizuho Bank, and Taipei Fubon Commercial Bank. The lender base is notably diverse and one of the broadest among comparable transactions.

In addition to the mandated lead arrangers, underwriters and bookrunners, the transaction attracted participation from several international institutions participating in the unsecured facility to a Vietnamese securities firm for the first time.

The facility is funded by 26 institutions across multiple regions, including China, South Korea, Germany, Hong Kong, Singapore, the Middle East, India, Malaysia, and Taiwan. This broad participation underscores TCBS’s expanding credit profile beyond the region, and its ability to meet the stringent standards of global capital markets.

Earlier in February, TCBS also made a strong mark in international markets by signing a long-term convertible loan agreement worth $50 million with DEG, the development finance institution under German development bank KfW. This transaction is considered a landmark transaction, helping to unlock European capital flows into Vietnam’s securities and financial sector.

The proceeds from the $488 million syndicated loan, once disbursed, are expected to enhance TCBS’s margin lending capacity, supporting its sustained market leadership. The additional liquidity will enable the company to navigate market dynamics with greater agility.

Nguyen Tuan Cuong, deputy CEO of TCBS, said, “The successful execution of this syndicated loan is a strong endorsement from international financial institutions of TCBS’s financial strength, governance capabilities, and long-term strategic vision. Over the years, TCBS has established itself as a pioneer in applying technology to financial services, developing a diversified product ecosystem, and building a wealth-tech model in Vietnam. This transaction further reinforces our position as a trend-setting financial institution, not only domestically but increasingly on the international stage.”

The transaction also sets a new benchmark for Vietnamese securities firms in accessing international capital. As Vietnam is set to be upgraded to emerging market status by FTSE Russell in September, unlocking significant global investment inflows, TCBS’s proactive approach in securing large-scale international funding positions the firm ahead of the curve.

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